This Payoff Confirmation is for use by a lender to inform a new lender that borrower has paid off a loan. This confirmation sets out all pertinent information regarding the parties including the date of the original loan agreement, names of both borrower and lender and the total payoff amount (including any interest, other fees and charges and legal fees). It also sets out the specifics of how the new lender should pay off the existing loan. This Payoff Confirmation should always be set out in writing. A written confirmation containing all pertinent payoff information will prove invaluable in the event there are disputes regarding the original loan.

This Payoff Confirmation contains the following provisions:

• Parties: The name and address of both borrower and new lender, date of the loan agreement and name of original lender;
• Payoff Information: Sets out detailed payoff information including the principal balance, accrued interest, other fees or charges, legal fees and the total payoff figure;
• Pay-off Payment: Sets out the specifics regarding the wire transfer of the pay-off loan amount;
• Receipt: Both borrower and new lender will provide written acknowledgement of receipt of this Payoff Confirmation;
• Signatures: The lender will sign this payoff confirmation and borrower and new lender will acknowledge receipt by signing at the bottom of the confirmation.

Protect yourself and your rights by using our attorney-prepared up-to-date forms.

This attorney-prepared packet contains:

1. General Instructions
2. Payoff Confirmation

State Law Compliance: This form complies with the laws of all states